Posted on 07 Jun 2010
Hub International Limited (Hub), a leading insurance brokerage firm, announced today that it has acquired the assets of IRUS Corporation (IRUS), a Philadelphia, Pennsylvania area-based employee benefits brokerage firm.
Terms of the acquisition were not disclosed. In connection with the acquisition, certain employees of IRUS will become part of the Hub International Northeast Limited team and will move into Hub’s existing office in Blue Bell, Pennsylvania. Frank Spezzano, President of IRUS, will join Hub as part of this acquisition, reporting to Joseph Torella, President, Employee Benefits Division, Hub International Northeast.
Founded in 1983, IRUS has a diversified client base, primarily located throughout Southeastern Pennsylvania and Southern New Jersey, with a large concentration in private schools and other educational institutions. Servicing small to middle market clientele, IRUS currently provides a full suite of group and individual lines of benefit insurance coverage and associated consulting. Group products offered include: medical, life, disability, and long-term care.
“We are pleased to welcome the IRUS team and their existing clients to Hub,” said Joseph Torella, President, Employee Benefits Division, Hub International Northeast.
“Frank and his highly skilled and experienced team have built an impressive operation by providing quality employee benefit programs and outstanding service for over 27 years. They’ve established many long-term relationships with their group client base. By partnering with one of the nation’s top 10 insurance brokerage firms, they can provide many additional value-added services and products to these clients.”